Turkey’s Eroglu is setting up a USD 120 mn garment factory in Qantara West: Eroglu Garment — a subsidiary of Turkish clothing manufacturer Eroglu Holding — is investing some USD 120 mn in a new integrated garment factory in the Qantara West Industrial Zone, according to a statement from the Suez Canal Economic Zone.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

By the numbers: The factory is set to churn out 30 mn garments a year and create 5k jobs, running on a "from yarn to garment" model that spans the entire production chain — from spinning to finished product.

Already mulling over the second phase: The USD 60 mn second phase of the factory is already being studied, according to the statement.

We saw this coming: Turkish ambassador to Egypt Salih Mutlu Şen said last month that Eroglu Holding was mulling plans to invest USD 120 mn in the Qantara West Industrial Zone.

This is just the latest in a spate of recent investments by Eroglu Holding, with the firm beginning construction on a USD 40 mn garment factory in Qantara West in August — set to launch trial operations in April 2025 — and breaking ground on a USD 51 mn garment factory in the zone in November.

DATA POINT- The Qantara West Industrial Zone currently houses 12 projects with combined investments of USD 511 mn, SCZone head Walid Gamal El Din said.

IN OTHER INVESTMENT NEWS-

India’s Volkov to set up USD 5 mn project: India’s Volkov will set up a USD 5 mn silicomanganese and ferrosilicon — elements used in the production of steel — production plant in East Ismailia’s Technology Valley, according to a statement. The project will create 150 direct jobs and will be the first in Tech Valley.

More to come: The company has two more projects in the metal industries sector planned, which should bring its total investment in the country to USD 65 mn. Volkov is expected to ink the contracts for the news projects within the coming months, according to the statement.

Tags: